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Ambani brothers to ink Rs 4500 crore pact

New Delhi, Apr 25 () : Ambani brothers are to ink a Rs 4500 crore pact. Reliance Jio owned by Mukesh Ambani will sign an intra-circle fibre pact with Reliance Communications owned by Anil Ambani.

The value of the deal is said to be Rs 3600 – Rs 4500 crore. This will give Reliance Jio full connectivity in big cities. This deal will give access to 50,000 towers of Reliance Com.

The start of this month, the Ambani brothers signed the agreement to share the optical fibre network. This was the first in eight years after the brothers split and signed no competition pact.

Both the brothers could not enter fields where they already existed. Mukesh could not enter the telecom sector since Anil had been already a player. The second deal would eventually lead to joint ventures in power and entertainment. The first deal was to the tune of Rs 1200 crore. RIL has indicated more deals for rolling out 4G.

Reliance Jio signing a deal with Bharti Airtel had sent stocks of RCom down since stock markets had calculated it as that no further deals between brothers were possible. Bharti Airtel’s pact with Reliance was for international data connectivity.

Stock markets interpreted this deal as a sign that Reliance Jio was open to deals with any telecom player and had nothing in place for its namesake. The present news of a second deal would send stocks of Reliance up.